Stocks nosedive as investors sell more

Shares fell on both stock exchanges on October 27 as investors tried to avert downward risks by selling more.

On the Hochiminh Stock Exchange, the VN-Index closed off 1.81 percent to end the session at 580.80 points, the lowest since July 3.

The VN30 which tracks the top 30 shares by market value and liquidity also dropped 2.28 percent to finish at 615.15 points as up to 29 stocks sank and just one remained flat.

Liquidity improved slightly compared with October 24 as both market volume and value increased 10 percent, totaling over 104 million shares worth 1.754 trillion VND (83 million USD).

Trading in Tan Tao Investment Industry Corp (ITA) shares rose in the afternoon, pushing the share to the most active position with nearly 6.7 million traded. ITA prices dropped 4.71 percent, however, to finish at 8,100 VND a share.

OGC came second in the market volume with 6.55 million shares changing hands, diving 6.4 percent to settle at 10,200 a share VND.

On the Hanoi Stock Exchange, the HNX-Index fell by 3.07 percent to close at 84.38 points and the HNX30 sank 3.98 percent to stand at 176.48 points.

The market volume changed little from the previous session at 58.6 million shares worth 781 billion VND (37 million USD).

PetroVietnam Construction Corp (PVX) continued to lead the market volume with 8.1 million shares traded, but it's share price plunged 5.17 percent to end at 5,500 VND a share.

Foreign investors remained net buyers in the HCM City market with a net buy value of over 7.3 billion VND (346,000 USD) but they sold strongly on the Hanoi Stock Exchange, accounting for 31.11 billion VND (1.5 million USD) worth of shares.-VNA

Source: Vietnamplus

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